Singapore is known to offer top-quality university education. However, pursuing degrees or courses may be difficult even at public universities and polytechnics that offer education at subsidised rates, without financial assistance.
While most banks and private financial institutions in Singapore offer education loans with low rates of interest , there aren’t many that offer no-interest tuition loans.
The government in its attempt to encourage people to go for higher education offers a range of benefits on these loans. These loans, administered by private banks like DBS and OCBC, tend to be effectively zero-interest loans if the dues are repaid before the completion of the degree. The issuers of these loans don’t charge penalty charges for early redemption or pre-closure.
If you’re, however, specifically looking for zero-interest loans for higher studies, you can check the following out:
Please check the dedicated page on the website owned by NUS to learn more about the exclusions.
While the CPF loan may not be interest-free strictly speaking, it is still one of the cheapest options available to you. The other loans too will attract interest after graduation/completion of the course. If you can start paying the dues for a loan soon after it’s issued to you, by the time you graduate, you may not be carrying a high balance.